T1 Energy (NYSE:TE) Shares Up 9.4% – Still a Buy?

T1 Energy Inc (NYSE:TEGet Free Report) shares rose 9.4% on Thursday . The stock traded as high as $5.05 and last traded at $4.9340. Approximately 5,969,694 shares were traded during mid-day trading, a decline of 79% from the average session volume of 27,806,432 shares. The stock had previously closed at $4.51.

Analyst Ratings Changes

TE has been the topic of a number of research reports. Needham & Company LLC reduced their target price on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. BTIG Research lifted their target price on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Finally, Sanford C. Bernstein began coverage on T1 Energy in a research note on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.12.

Check Out Our Latest Stock Analysis on T1 Energy

T1 Energy Stock Down 2.8%

The firm has a 50 day simple moving average of $6.15 and a two-hundred day simple moving average of $6.63. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.90. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -2.43 and a beta of 2.23.

T1 Energy (NYSE:TEGet Free Report) last posted its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. The company had revenue of $250.13 million during the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. As a group, sell-side analysts expect that T1 Energy Inc will post -0.31 EPS for the current year.

Institutional Trading of T1 Energy

Several hedge funds have recently added to or reduced their stakes in TE. Renaissance Technologies LLC increased its holdings in shares of T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after acquiring an additional 8,289,050 shares in the last quarter. Vanguard Group Inc. bought a new stake in T1 Energy during the 4th quarter worth approximately $69,894,000. Situational Awareness LP acquired a new position in shares of T1 Energy in the first quarter valued at approximately $43,900,000. Kim LLC acquired a new position in shares of T1 Energy in the second quarter valued at approximately $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of T1 Energy during the fourth quarter worth $40,080,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

T1 Energy Company Profile

(Get Free Report)

T1 Energy Inc is an energy solutions provider building an integrated supply chain for solar and batteries. T1 Energy Inc , formerly known as FREYR Battery, is based in NEW YORK.

Further Reading

Receive News & Ratings for T1 Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T1 Energy and related companies with MarketBeat.com's FREE daily email newsletter.